The US dollar fell on Thursday, affected by the escalation in trade tension between China and the United States, at a time when market expectations of a reduction in interest rates during the current year strengthened.
The euro rose 0.14 percent to $1.1664, recording its highest level in a week, while the Japanese yen rose to 150.52 per dollar, also the highest level in a week.
The dollar index, which measures the performance of the US currency against six major currencies, fell by 0.16 percent to 98.512, heading towards a weekly loss of about 0.33 percent.
These moves came after Washington criticized Beijing for expanding restrictions on the export of rare earth metals, considering that they threaten global supply chains. The Chinese Ministry of Commerce responded by saying that American steps against Chinese companies were the reason for imposing these restrictions, and described American criticism as “hypocritical.”
